Abound

Abound is a UK-based fintech company specializing in AI-driven personal loans. Founded in 2020, the company offers loans ranging from £1,000 to £20,000, repayable over up to five years, with representative APRs between 8.0% and 29.8%. Abound leverages advanced credit technology to assess borrowers using real-time financial data via Open Banking insights, aiming to provide loans tailored to individuals' unique financial circumstances.

The company's mission is to increase access to affordable loans and transform financial well-being. Abound's proprietary platform, Render, utilizes AI-driven cashflow underwriting to understand each borrower's unique financial situation and affordability. By incorporating real-time financial data, Render enables Abound to minimize default rates and offer more competitive loan rates compared to traditional methods that rely on outdated credit scores and statistical averages.

Abound has achieved significant growth and profitability since its inception. In the year ending February 2025, the company reported £66.8 million in revenue, more than doubling from £26.6 million the previous year. Net profit surged to £7.5 million, a 25-fold increase from £0.3 million the previous year. The company has secured a total of £1.6 billion in debt funding from institutions such as Citi, Deutsche Bank, and Waterfall Asset Management, enabling it to scale its operations and enhance financial inclusion.

Abound's approach to lending remains unique in the finance industry, focusing on the full picture of a borrower's financial situation rather than solely on credit scores. This strategy has allowed the company to qualify more people for low-cost loans and provide flexible and dynamic credit on demand. By offering insights on affordability and debts back to consumers, Abound helps individuals create sustainable repayment plans and become debt-free faster.

Abound's founders, Gerald Chappell and Michelle He, have extensive experience in advanced analytics, credit risk, and digital lending. Their vision for Abound is to address significant pain points in the UK consumer finance market, including the inability of over 15 million people to access affordable finance and the reliance on traditional credit scoring that does not reflect actual affordability. Through its innovative approach, Abound aims to empower consumers to minimize their borrowing costs and improve their financial well-being.